However there are 2 or 3 HML in these markets that have a full service.IE they track all the courthouse steps sales.. they then bid for you and once you win the sale they put the HML on the property once the sherrifs deed or Trustee's deed is received..from a HML perspective its genius I would have done it personally but we got so tangled up in the GFC  we had to pivot.But what they do is this.1. you must deposit 20% of the opening bid amount with them prior to the sale  so if opening bid is 300k you need 60k deposit.2. you pay a bidding fee  usually a % like a commish of the winning bid  3.

Make sure you have an open communication with them about this since they will probably be able to provide you good perspective on the situation.

I appreciate hearing from a lender's perspective and I will make a note of that.

The biggest pro for me, from your perspective, was not having to wait for an agent to schedule the showings.

I’m working from a very tight budget from my perspective.

@Nicholas GrayNot offering anything new here: yes, personal guarantee is the way to go.Only offering a perspective: why would the seller accommodate your concerns about your future funding etc.?

My guess is that 'it depends,' so I figured a forum with different perspectives and scenarios would help out my fellow Newbies and I. 

First of all, the lease clause is worded for showing to perspective tenants, which would be after the current tenant gave notice.

What areas are still desirable from an investment perspective? 

id=53XLanyMUqwC.Regardless of financing this book helps you understand how to break down a property from a cash flow perspective.